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Business Scene

The government's 2002 fiscal budget is expected to see a five percent drop in its deficit. Prime Minister Ali Abul Ragheb said the new budget will focus on reducing public expenditure, promoting investment in different sectors, and restricting new appointments in public departments. Cabinet sources noted the 2002 budget is around JD 2.4 billion.

* Jordan's annual Information Technology exports are $40 million. The IT investments in the Kingdom increased to more than $55 million. Karim Kawar, president of the IT Association in Jordan (INT@J), said Jordan is getting more investments, both regional and international, to upgrade its IT industry. The INT@J's initiative, "REACH" aims to lay a legitimate foundation for the IT sector in Jordan. About 27 draft laws are awaiting ratification by Parliament. Kawar noted these laws will be vital in making Jordan's IT more efficient, stable and fruitful.

* The abject poverty line in Jordan stands at JD 380 a year for one person. According to a report by the Labor and Development Fund, almost 50 percent of Jordanian families earn less than JD 150 per month. It highlighted the fact the poverty rate is increasing despite government assurances. The report stated the fund carried out more than 12,600 projects around the Kingdom during the past 10 years costing more than JD 34 million. These projects provided more than 25,000 jobs.

* The Income Tax Dept, earned more than JD 143 million in the first eight months of 2001. This was an increase of 15 percent over the same period last year. Taxes paid by shareholding companies were JD 98.7 million, followed by individual businesses at JD 24 million. Taxes paid for the annual profits of local businesses witnessed a JD 1 million decline from last year to JD 7.1 million.

* Meanwhile, revenues from the sales tax were JD 331.4 million in the first eight months of 2001, a 7 percent increase over the same period last year. Taxes paid on imported products were the highest at JD 157 million, followed with JD 120 million for Jordanian products. * The Ministry of Public Works has projects valued at JD 134 million around the Kingdom. Construction of buildings and paving roads make 80 percent of these projects at JD 104 million. Among the new buildings, the ministry is working on the Prince Hamza Hospital at a cost of JD 23 million, and the rehabilitation of Al Bashir Hospital at JD 9 million.

* Eleven banks in Jordan made JD 143 million profits in the first half of 2001. This is about a 20 percent increase over the same period last year. The Arab Bank came first with JD 105.7 million, followed by the Housing Bank with JD 15.2 million. Bank of Jordan came third with JD 6.45 million. The Middle East Bank for Investment on the other hand, made a loss of JD 0.61 million.

* The US is the biggest importer of Jordanian exports. Statistics show America imported JD 61.8 million in goods, a four-fold increase over the same period in the year 2000. India came second with JD 55.2 million, followed by Saudi Arabia at JD 50.6 million. Jordan's gross exports for the first half of 2001 were JD 591.2 million, increasing by 15.7 percent over last year. About JD 76.2 million of the exports were textiles.

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The Star

Some Marks
To see in Jordan
Fairs & Exhibitions
Useful Addresses
Media of 1stjordan
Impact of 1stjordan
The 'First Jordan' Card
Press Book
Exotica - Flowers - Shopping on line
Engineering Consultants Lebanon
Nsouli Jewelry Lebanon
Hotel Beirut Lebanon
Rent Villas France for Holidays, Seasonal Rentals France
Sole Agent for Philips & Whirlpool in Lebanon
Arab Printing Press Lebanon
Hotel Beirut Lebanon
Arabic Music, CD Arabia
Hotels Syria
Groupe PMR